Should parents tell their adult children what’s in their estate planning documents?

A story on insurancenewsnet.com says absolutely yes.

Just how much you should tell your children, however, may vary according to what you are comfortable with.

But at a very minimum you should tell them where the documents are, who your key advisors are and what immediate steps they should take should a death occur.

It is bad enough to lose a parent, but being kept in the dark will only make it worse, the story says.

The article recommends bringing all the children together for a meeting to have this conversation.

In certain families, the story says, more information should be shared. In others, it may be less.

In most cases, specific dollar amounts may be withheld, so the parents can retain some autonomy over over their lives.

If you have questions about estate planning, feel free to call us for a consultation at (626) 696-3145.

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